Veritex Holdings, Inc. (NASDAQ:VBTX) to Issue $0.20 Quarterly Dividend

Veritex Holdings, Inc. (NASDAQ:VBTX) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, May 10th will be paid a dividend of 0.20 per share by the financial services provider on Friday, May 24th. This represents a $0.80 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, May 9th.

Veritex has increased its dividend payment by an average of 5.6% per year over the last three years. Veritex has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Veritex to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.2%.

Veritex Stock Performance

Shares of NASDAQ:VBTX traded down $0.30 during trading on Thursday, hitting $20.49. 21,917 shares of the company traded hands, compared to its average volume of 422,889. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.09 and a beta of 1.34. The business’s fifty day moving average is $19.87 and its 200-day moving average is $20.28. Veritex has a one year low of $14.88 and a one year high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The business had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a return on equity of 8.51% and a net margin of 12.47%. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, equities analysts predict that Veritex will post 2.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VBTX shares. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods cut their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Piper Sandler upped their price target on shares of Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Veritex presently has an average rating of “Hold” and a consensus price target of $24.38.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.